Page 4 - Bankers

Nearly 70 senior bankers in race to head debt-ridden Laxmi Vilas Bank

The Chennai-headquartered mid-sized private sector bank has been headless since mid-September after the then chief executive Parathasarathy Mukherjee left before the completion of his three-year term

150,000 bankers to discuss how to make India $5-trillion economy by 2024

To contain high bad loans in the MUDRA scheme, the managers suggested that a national portal be floated to verify the borrower and whether multiple lending has happened

Laid-off expat bankers struggle to find job opportunities in Hong Kong

Expat bankers who lost their jobs and want to remain in Hong Kong often have to consider lower-paying options or demotions

Where have all the bankers gone?

Both ICICI Bank and Axis Bank have picked up their new CEOs from the insurance industry

Don't hound bankers: Defensive lenders are the last thing the economy needs

While there should be zero tolerance for corruption, bankers cannot be subjected to stop taking decisions because of fear that even genuine mistakes can result in hounding by investigative agencies

Why your banker plays it safe

The risk in banking doesn't come from culture but from structure

Bankers brace for hitches and legal battles over RBI action on defaulters

Even as the central bank has identified 12 large accounts for bankruptcy proceedings and directed lenders to work on a resolution process for 500 more, bankers say the system is not ready for effective resolution. Bankers are bracing for hitches at the National Company Law Tribunal (NCLT) and in the process required for bankruptcy. For example, there are not enough insolvency professionals. And, no information utility company which houses all the credit data of borrowing firms and can be used in a bankruptcy proceeding.The time-bound nature of the bankruptcy code, envisaging resolution within 180 to 270 days, would put enormous pressure on the existing judicial infrastructure. The legal system and NCLT are new to this game. "Expect unintended twists and setbacks as cases come up before the tribunal," said a recovery head at a Mumbai-based public sector bank. Experience with the Debt Recovery Tribunals (DRTs), which were to give verdicts within time limits, has been disappointing. ...

Street signs: Hopes rekindle for bankers

HDFC Life said it was reconsidering the IPO proposal

Bankers don't want a new NPA resolution plan

Implement the existing one properly to clean up the mess

Exasperated bankers

With banks increasingly taking over defaulters' assets, a new problem is facing lenders. Bankers say they get all kinds of queries from employees, suppliers and customers of the defaulter company. A large number of questions relate to their salaries, income tax deductions and even ways to access their PF accounts! The promoters of these companies divert all queries to the banks that have taken over the assets. Exasperated bankers, who do not have any experience in running companies, rue how such calls eat up precious time.

Bankers says interest fall will fall when credit growth picks up

Raghuram Rajan blamed the bankers for holding onto higher rates even after the RBI lowering the same by 150 bps

Coming home on tap

They are small town boys who went on to make it big in global financial powerhouses. Now, they are back. Over the past several months, these blue-blooded bankers, all in their 50s, have either picked stakes in local non-banking financial companies or initiated process of setting up one from scratch. Reserve Bank of India's on-tap licensing policy, announced on Monday, seems to have opened up new possibilities for these ventures. With big corporate groups and public sector competition out of the way, these seasoned money men seem to have placed themselves in sweet spots. Will they lead India's new little banks like they have led global behemoths?Business Standard looks at the global stars who have come home.Vikram Pandit, 59Early years: NagpurEducation: Columbia Business SchoolClaim to fame: Former Citibank chief, steered the bank through global financial crisisIndia venture: 50% stake through his fund in FICS Consultancy Services, a JV with JM FinancialFocus area: Realty loansAnshu Jai

Bankers want lowering of dilution norms for SME firms

Change in dilution norms will help encourage more companies to come on board SME platform